by The Europe pet furniture market comprises of beds, cages, kennels, tree houses, couches and day beds made for domestic pets like dogs and cats. Pet furniture offers pets a comfortable space in homes and help in maintaining hygiene. Requirement of quality resting spaces for pets is contributing to the growth of the market.
Europe Pet Furniture Market is estimated to be valued at US$ 2.68 Bn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Europe pet furniture are Georgian products , Kokaa Pet Furniture, RHR Pets Europe, Danish Design Co, Pet Empire, The Pet Carpenter, Home Pine Furniture Centre, Maker&Son, The Tweed Hound, Milo & Pi Luxury Dog Beds, The Painted Furniture Co., Inter IKEA Systems B.V., and MiaCara GmbH & Co. KG. The increasing demand for pet furniture is attributed to rising pet adoption and humanization of pets in European countries. Countries like the UK, Germany, Italy, Spain and France are observing significant increase in sales of pet furniture. The market players are also expanding their business globally to strengthen their market presence.
Growing in the Europe Pet Furniture Market Demand can be attributed to rising pet adoption and increasing expenditures on pet care products in Europe. According to the Federation of European Companion Animal Veterinary Associations, there were around 254 million pets in Europe in 2021, out of which 54.4% were dogs and 42.3% were cats. Also, European pet owners spend an average of €2,500 per year on their pets.
The global expansion of key players in the Europe pet furniture market through strategic acquisitions and partnerships has contributed to market growth. For instance, in 2022, Danish Design Co. expanded its operations to Austria and Switzerland through a partnership with Anthropic. Such global expansion strategies have enabled players to penetrate untapped markets.
Market key trends
One of the key trends in the Europe pet furniture market is the growing demand for luxury and premium pet furniture products. Availability of innovative, designer and lavish pet furniture incorporating quality materials like wood, marble or leather contributes to luxury appeal. This has encouraged pet owners to invest more on comfort, safety and hygiene of pets. Another market trend includes growing popularity of multifunctional pet furniture that serves the purpose of sleeping, playing and resting. Increasing demand for portable, foldable and space-saving pet furniture suitable for small homes and apartments is also observed.
Porter’s Analysis
Threat of new entrants: Pet furniture market in Europe has high initial investment required for manufacturing, thus posing a moderate threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power as there are variety of options available at different price points.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials required are easily available.
Threat of new substitutes: Threat of new substitutes is low as demand for pet furniture is growing in Europe with increase in pet ownership.
Competitive rivalry: The market is fragmented with presence of numerous international and domestic players.
Geographical Regions
The United Kingdom accounts for the largest share of the Europe pet furniture market owing to high pet adoption and growing spending on pet care products. Growing pet humanization trend and nuclear families are driving the demand in the country.
Germany is expected to witness the fastest growth during the forecast period due to rising millennial population open to adopt pets and increasing disposable income to spend on well-being of pets. Evolving lifestyle and growing acceptance of pets as family members are key factors propelling the market expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
